Remitly Global's send volume is growing nearly twice as fast as its customer count, a gap that underpins the entire investment case for the cross-border payments company. Customer base grew 20% year over year to 9.6 million in Q1 2026 and another 20% in Q2, while total money handled rose 27% in Q2 after 37% in Q1. EBITDA improved 79% year over year in Q2, with pretax net income reaching $64.6 million on just under $500 million in revenue. Analyst Gus Galá of Monness Crespi Hardt views Remitly as a structural market winner poised to capture 10% to 15%+ of consumer transactions by 2030, and the company has topped earnings estimates for 10 consecutive quarters. The stock is up more than 60% year-to-date, with a 12-month consensus target of $32.05, nearly 40% above its current price.
Remitly Global IncSend volume growth outpacing customer count drives profit surge
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